What is personal or consumer loan?

One of the most common options to obtain financing, outside of conventional banking, is personal loans. Many people opt for this type of loan because its processing is very simple and the entities do not usually ask for too many requirements for its granting. But what is a personal or consumer loan? As its name indicates, this type of loan is normally used to purchase material goods and consumer services, from buying a car to paying for studies abroad.

What is personal loan?

What is personal loan?

A personal loan is a financial product that allows the client to receive an amount of money from a financial institution. In exchange, he agrees to repay said amount within certain periods and with agreed interests. In personal loans, the entity that grants them normally does not require a guarantee as collateral to recover the amount loaned. 

In this sense, banking entities assume a much higher risk and, therefore, tend to impose much higher interests. For this reason also, the amount of money that is granted when applying for the loan is usually less. Likewise, although no guarantee is required, the debtor will answer for the loan with all his assets, past and future. 

Can you get personal loans despite being in debtors list?

Can you get personal loans despite being in debtors list?

In addition to wondering what a personal loan is, many people wonder whether it is possible to apply for personal loans with debtors list . In most banks, one of the requirements that the customer must meet to get their loan is not to appear in the delinquency files. Therefore, it is difficult to get a personal loan through traditional banks as part of debtors list.

With us being part of a defaulters file is not a problem to access any of our operations. In addition to not being a problem, through our financing you can manage to get out of default files, because we help you pay your outstanding debts. 

It is true that getting loans with debtors list is more complicated than usual, but we put all the facilities so that this is not the case. Here you can see all the characteristics of our loans and in this article we tell you how to get credits with debtors list. 

Posted in Uncategorized

Leave a Reply

Your email address will not be published. Required fields are marked *